Guys,

What a big deal here, now many developers always said will Free SPA but you have to fullfill their requirements...

and this is Very Common that your have to fork out $ for the bank loan agreement fees with BNM rules that immediate effect from Jan 2010... before this typically legal fees are borne by Banks and their locking period is 5 years... now seem purchasers to pay for the bank loan legal fees... they have change it to 3 years so that can comptetive in this market...

there's always have 90% + 5% loan margin where 90% is your house loan + 1% might be MRTA, and 4% is your bank loan legal fees...

if they not approve other 5% for you, meaning that the Bank is not willing to take additional Risk from you OR it might be your credit score still very New in the CCRIS (high risk)..Normally the Bank will include and refinance the 5% for you...

This post has been edited by cutealex: May 23 2011, 11:12 PM

ahh.. now only the sifu come to rescue.. if that's the case. i think i might fall into the 'still very new' type (2 years working oni).. if that's the case. that might make sense..

but anyhow, thanks for the explanation. that explains everything sifu!

so, i guess i dont have that much choice rather than cari ~6k lah.

this fee is common wut. if cant loan, need to fork out.
buyers shouldnt blame SA didnt inform, coz the onus is on the buyer.

pray hard my loan approve on tmr..time getting lesser and lesser..whichever loan come 1st, i juz grab it 1st..don wan think so much

then get other bank... if the bank dont approve you can appeal.

but if they reject, then thats it.. there are few bank to scout around.

what ever the loan officer excuse is, you cant blame her. she/he only submit your application

according to the information you provided. You cant blame her/him.

---

Added on May 23, 2011, 11:36 pmhey, dont be such a spoilt kid.

you have got 10% discount while others got onli 5%

small matters making so much noise.



This post has been edited by 106127: May 23 2011, 11:36 PM

i didnt blame her. but she did asked me previously on my working experience n i told her about 2 years. n she still mentioned ok wann. can include blablabla..

haha. somehow i did felt like spoilt kid when reading back my post. just expressing/sharing my concern with others meh.. sharing is caring what future neighbors? n somehow, got future neighbor oso got same case as mine. so, it's good to have the worst case scenario right?

Its looks like a lot of first time buyer here..huhu..
Well, actually if those who wanna buy a property, first of all they need to standby about 10% as a downpayment..
This is not including legal fees for SnP and loan documentation. So for Amara project, those who get 10% discount is considered very untung ma..
no need to pay 10% which may cause around 20k++.
So, be thankful and plz dont think it is a big deal if u need to pay for legal fees and mrta.

it is not a big deal to whom already aware/prepared and have the money to pay all those fees.

to first time buyer (dont care la get 10 or 5% disc) who dont know they actually need to fork our more money than what SA said. it is big deal to them...normal ma....

This post has been edited by mousepad87: May 24 2011, 12:03 AM

i'm well aware of that. that's why i bought this amara since i dont have to ppare 10% of the d/p. i'm well aware of all the legal fees + MRTA cost as well but as i mentioned before the lo told it can be include blablabla. then hati senang la. dont have to think that much anymore. hehe.

but yes i agree with u. worst come to worst still need to prepare cash in case of this thing happen. but it's good lesson learnt for me as well as other buyers.

thanks all sifu-sifu here la. ok?

Small advice.

When buying property. Make sure at least you have 20% cash on the property price.

10% for DP

10% for emergency such as. SPA, MOT, MRTA, Lower loan amount

lol..u all make it like very serious...makes me scare ord

Alex: ur loan approved?

Just to share my opinion, i think if you buy the property for own stay, and if you can afford, better dont include the legal fee and MRTA to the loan as a RM6k of loan included, the interest is will be RM4k++ assuming you are taking a 30 years loan. so end of the day you are actually paying RM10k+++ for the legal fee and MRTA.

As for the MRTA, from what im heard from my banker it is not compulsary, but again i think if you buy ir for own stay better buy the MRTA, if for flip then no need lo.

Just my opinion to share. first time buyer too, if i am wrong pls advise, eager to learn more.

for own stay, better buy either MLTA or MRTA but if you plan to sell if once completion, den juz ignore it

Sound like something not right on your MRTA/MLTA advice...

---

Added on May 24, 2011, 9:49 amSound like something not right on your MRTA/MLTA advice...

This post has been edited by cutealex: May 24 2011, 09:49 AM

oh.. is it maybe my english not so good, what i mean is if the property is for own stay then better buy the MRTA, if for flipping, then no need to buy MRTA.

or you mean if own stay no need to buy MRTA? then maybe what the banker tell me is not entirely true?

This post has been edited by mayleou: May 24 2011, 10:10 AM

This is very common policy that adds to your mortgage loan, the insurance that allows home buyers to protect themselves financially against possible death or permanent disability. Under the plan, anyone who dies or becomes permanently disabled before his mortgage is paid off will be relieved of his mortgage debt so long as he has made his MRTA / MLTA payments.


MLTA (Mortgage Level Term Assurance)
Transferable - is transferable whenever the borrower buys a new property or refinances his loan with another bank as many times as you need.
Savings + Returns - premium paid will be accumulated either as savings or savings plus returns. The cash value can be used to pays off your mortgage.

MRTA (Mortgage Reducing Term Assurance)
Not Transferable - new MDTA policy has to be taken up whenever a borrower changes his properties or refinances his loan with another bank
No Cash Value - zero cash value at end of the mortgage tenure

many ppl say, if the interest rate is 4% or lower, die die must take... coz the inflation rate is higher than that.. just like PTPTN,even if u can afford but just take the offer... buy unit trust, property or whatever... rm4k after 30 years? what is that? but with this rm4k in hand, u even can get another property.... however, this theory is only applied before 2011... as bubble is going to burst 1 day.....

who got the public bank contac t?

PB - Lion Chow Kit 012-940 8171

GOOD NEWS !!!
OCBC now can finance AMARA !
OCBC offer BLR-2.4% for 300k loan or above.
pm me now.